ETRN - Mountain Valley Pipeline key water permit upheld by U.S. court

2023-03-29 17:51:03 ET

The 4th U.S. Circuit Court of Appeals on Wednesday upheld a key Virginia state permit for the Mountain Valley Pipeline project, which could allow the project led by Equitrans Midstream ( NYSE: ETRN ) to keep its 2023 in-service goal within reach.

A three-judge panel found no reason to overturn a water quality certification granted in December 2021 by the State Water Control Board and the Department of Environmental Quality.

The court rejected a lawsuit by environmental groups that argued the state agencies failed to consider alternative water crossings for the pipeline, verify whether each crossing was the least damaging option, and properly assess whether the pipeline complies with water quality standards.

MVP is still awaiting other approvals from state and federal agencies before completing a 303-mile pipeline that starts in northern West Virginia, runs though Virginia and connects with an existing pipeline near the North Carolina state line.

A possible end is in sight for the MVP project during 2023, with Equitrans Midstream ( ETRN ) with management expecting permits could be forthcoming reasonably soon, DT Analysis writes in a report published recently on Seeking Alpha .

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